Premarket Prep Gold 12232020 - Bear Market Trader
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Premarket Prep Gold 12232020

Premarket Prep Gold 12232020

#fin­twit #order­flow #day­trad­ing #pre­mar­ket­prep #Forex­trad­er #forex #FX #Forexlifestyle #day­trade #trade­plan #trad­ing­plan #trad­ing­forex #trad­inglifestyle #day­trader­life #XAUUSD #GOLD 

This is my pre­mar­ket prep for today’s Euro­pean ses­sion for GOLD. This prep builds off of my week­ly trade plan I made here:

The pur­pose of a pre­mar­ket prep is to find setups with­in my week­ly trade plan bias

Week­ly Focus Points

  • Don’t take trades where SL place­ment is sub­op­ti­mal. Instead, reassess for a bet­ter entry if pos­si­ble. Unless there is a momen­tum play.

Com­pared against Week­ly Trad­ing Plan

  • Trad­ing with­in last week’s body

Non-con­jec­ture obser­va­tions of the market

  • Price action
    • D1 fol­low-through down
    • H4 DBD from H4-C‑S 1877.561 arriv­ing at H4-C‑D 1861.152 fol­lowed by a consolidation
    • H4 Closed break­ing up from con­sol­i­da­tion above H4-C‑D 1861.152
  • Mar­ket Profile
    • 4 day brack­et­ing range
    • ADR: 28108
    • ASR: 18654
      • 470
    • Day
      • Yes­ter­day’s High 1884.200
      • Yes­ter­day’s Low 1858.850


  • Loca­tions
    • 1877.561 above VAH
  • Sen­ti­ment
    • LN open
      • Below Val­ue, Out­side Range
    • Open dis­tance to value
      • 0.2xASR
    • Sen­ti­ment
      • Mod­er­ate to slight­ly large imbal­ance. With H4 demand below we could see a val­ue accep­tance and rotation.
  • Clar­i­ty (1–5, 5 being best)
    • 4
  • Hypo 1 — Val­ue Acceptance
  • Hypo 2 — Swing Reversal
    • After VAA we could see a rever­sal at H4 supply
    • Pre­ferred: VAA + rota­tion, IB exten­sion up, TPO struc­ture build up, Price action rever­sal. Prefer­ably sin­gle print fade.
  • Hypo 3 — Return to Value
    • Fail­ure to accept value
    • Pre­ferred: price action rever­sal with IB exten­sion down and sus­tained auction.

Addi­tion­al notes

  • Brex­it talks are still on

ZOIs for Pos­si­ble Shorts

  • W1-C‑S 1888.729
  • H4-C‑S 1877.561

ZOIs for Pos­si­ble Long

  • H4-C‑D 1861.152

Mind­ful Trading

  • Feel­ing okay 

Focus Points for trad­ing development

  • Month­ly Goals
    • Con­tin­ue track­ing my DRC track­ing sheet
    • Focus on my own progress and less on others
    • Feel­ing okay with NOT trading
    • Have ‘qui­eter’ weekends
  • Week­ly Goal
    • Min. 3 times hit­ting the gym
  • Trad­ing Rules
    • Trade from D and upwards unless a pos­si­ble momen­tum trade, val­ue accep­tance or otherwise. 
  • Risk Man­age­ment
    • 3 trades 1% risk, 3rd trade only if first 2 worked out
    • Cap­i­tal Preser­va­tion dur­ing draw­down allows for 1R profit-taking
    • 2 con­sec­u­tive days of lack of sleep = NO TRADING


Day trader. Tech geek. Sim Racing Enthusiast.

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